IFA President Eddie Downey, flanked by IFA Livestock Chairman Henry Burns, at the IFA Executive Council meeting, during a discussion on the outcome of the Beef Forum and the next phase of the IFA campaign. (Image: Finbarr O'Rourke)

After nine hours of intense round-table talks, details of a new pricing system were agreed.

They include reinstatement of the Quality Payment System, the removal of weight limits and a new Quality Assurance incentive payment for all steers and heifers.

The deal follows widespread action by farmers after the Irish Farmers’ Association reported members here were getting €350 less per animal than their UK counterparts.

Farmers take part in an IFA Nationwide 48 hour beef price protest, at the Kepak plant in Clonee Co Meath. (Image: Finbarr O'Rourke)

Eddie Punch, general secretary of the Irish Cattle and Sheep Farmers’ Association, said: “There was a document put together to address specific issues in how cattle are priced, progress was made and hopefully it will leave farmers with more money in their pockets.

“Unfortunately a base price could not be agreed because of a ruling from the Competition Authority.

“Until the end of 2015 there will be no fines for carcasses that are too heavy. The current limit is 420kg, you get cut for animals that go over.

“This is a bone of contention and farmers feel they are being penalised for feeding their animals well.

“Another issue has been that farmers get a reduced price for animals once they hit 30 months.

“This means farmers are rushing to prepare animals and weakens their negotiations if they’re terrified of being penalised for going over, so it’s been extended to 36 months.”

“We’ll have to wait and see, we’re just hoping that prices could still go up if cattle go scarce.”

Agriculture Minister Simon Coveney was more upbeat.

He said: “I strongly believe that this is a response which the whole sector can get behind and support.”

IFA President Eddie Downey said: “The beef protest has sent a clear message to meat factory bosses that farmers must be treated fairly and with respect.”